Rising Palm And Sugar Prices Boost Wilmar Profits

Agri and food business giant Wilmar reported a jump in profits, as rising sugar and palm oil prices increase its revenue. And the company issued an upbeat outlook for 2016, as it eyes opportunities in China. Wilmar reported a jump in its core profit to $589.50m, up 70% year-on-year in the last three months of 2016. 

 The rise in profits was driven by better performance across the company, particularly in sugar and palm oil, as well as one-off tax recognition from the company’s Indonesian operations. Company revenue grew 27% year-on-year, to $11.95bn, which Willmar ascribed to higher commodity prices and stronger sales volume.

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